RIYADH — Saudi household ownership rate reached 65.4 percent by the end of 2024, surpassing the 2025 target of 65 percent. This result underscores the effectiveness of housing and financing initiatives implemented in partnership with stakeholders, according to the annual report 2024 of the Housing Program, one of the initiatives of the Saudi Vision 2030. The report also noted that more than 122,000 families have benefited from housing support during the last year, while over 21,000 eligible families were able to own homes through development housing programs. The year 2024 also saw the signing of more than 13,000 contracts for land products affiliated with the Ministry of Municipalities and Housing, as well as around 16,000 contracts for self-construction, over 49,000 contracts for ready-built units, and more than 27,000 contracts for off-plan sales. The report titled "From Decision to Stability" highlights key performance indicators and strategic achievements that have supported the national economy, boosted non-oil GDP, and advanced the goals of Saudi Vision 2030. It reflects the attention and support that the program has received from the leadership, which is committed to enhancing housing stability for citizens. The report confirmed that the program's strategy successfully addressed the accelerating pace of home ownership despite global economic challenges. It launched development initiatives and projects that expanded housing opportunities, attracted private sector partners, and created jobs and investment prospects. The Housing Program aims to enable Saudi families to own suitable homes with ease through a package of housing and financing solutions that serve different segments of society across all regions of the Kingdom. This supports the goals of Saudi Vision 2030, which seeks to raise the home ownership rate to 70 percent.
